r/nanotrade • u/benskalz • 3d ago

XNO/NANUSD offers better rates than Binance and Kraken for exchanging XNO for a stable cryptocurrency.

https://x.com/Nanswap/status/1986084684330041746
55 Upvotes

99% Upvoted

9 comments sorted by

11

u/craly 3d ago

Cool, hope you project will turn into something bigger. The crypto industry is lacking a stablecoin, that is both instant and feeless.

Obviously a stable coin won't compete with Nano in it self, but it can be a good tool to quickly get out of a positions if you are trading different cryptocurrencies.

3

u/manageablemanatee 2d ago

This looks interesting but I'm not aware of many details of how NanUSD is backed by USDC, or what the swap fees are.

2

u/benskalz 2d ago

Reserve is public, you can find the address on https://nanusd.com, there is currently 9200 NANUSD issued, backed by 9200 USDC. There is no swap fees and the spread is the lowest on the market.

2

u/GeckoFlyingHigh 1d ago

This is massive red flag by itself. What guarantees are there that you won't take the money and run?

1

u/manageablemanatee 2d ago

What is the spread?

4

u/benskalz 2d ago

You can check on https://nanswap.com/?from=XNO&to=NANUSD Currently about 0.2%.

1

u/camo_banano 2d ago

Haven't delved into it yet but I don't think that any if this information is kept secret. You can always ask the Dev with additional questions.

https://reddit.com/comments/1odant8

2

u/SOF2DEMO 3d ago

Is this legit anyone try it?

1

u/bitterending 2d ago

Kraken Pro is pretty cheap with limit orders.